Seek out the advice of your local financial professionals
WHEN it comes to making decisions on how best to manage your finances, it can be quite easy to get overwhelmed with everything that needs to be done – from pension planning, to household budgets to insurance costs and for those unsure of how best to approach it, seeking out the knowledge of financial professionals is the best way for you to go.
Kerry offers a wealth of choices of financial institutions to choose from whether it’s tax-related, a loan query, questions about your pension, everything you need to know about insurance costs or much more, there are professionals out there in every area to help guide you.
As with all areas in life, the motto ‘fail to prepare, prepare to fail’ is a good yardstick to live by and it is the exact same when it comes to your finances, if you do not plan carefully and prepare and seek out the sound advice of those who are able to put you on the right path, then you might be setting yourself up for financial confusion down the line.
First things first, seeking out a financial advisor is a crucial element to unmuddling the money problems that plague us and while this may sound daunting, the process is actually quick and easy to do if you seek out the top class financial services that are available in Kerry.
You should keep in mind that financial advice covers a very broad range of issues so before speaking with your advisor, know what you want to ask them – do you just need some general advice or is it something more specific that you need help with?
By having all the information to hand in advance of the meeting with your advisor, you will give yourself the best chance of him/her finding you the best possible solution that will suit your needs.
Financial advisors will also be on hand to take you through the many risks that come with certain products, and financial advisors and institutions can also help out with advice on personal loans and find the best deal for you on the market.
No matter what financial situation you find yourself in, remember that there will be no shortage of advice here in the county to help put you on the right path to financial security.
With more and more people getting to enjoy longer and longer retirements each year, the big question that you have to ask yourself is – have I sufficiently prepared myself to fully enjoy my post-working years?
The important thing to think about when it comes to your retirements plans is having a sustainable and regular income, which means that you must have your pension plan in order so that you can fully enjoy what should be a hugely enjoyable period of your life.
At the marginal rate, you will be able to receive tax relief on what you’ve already saved – with tax-free funds building up until retirement – when you get a portion of your fund tax-free.
Again, setting up a pension might seem like a daunting prospect, but again there are a wealth of profession advisers out there who are happy to assist you with everything you will need. You may opt to do it through your company in the form of a company scheme, an executive pension, or AVC (via scheme); or you may go the personal route with PRSA, a personal pension, or AVC (free-standing).
Nothing in life is certain especially when it comes to careers so if you are unfortunate enough to be made redundant, your pension scheme is wound up or you just decide that a career change is needed, professional financial advisors can help you to deal with all of these challenges.
Given the amount of preparation that goes into preparing for your retirement, working with an advisor would is a very worthwhile use of your time and a great exercise in maximising your pension’s potential.
In many cases it’s the traditional annuity route, or income for life, that will apply to you. But remember that there is also plenty of space to explore options such as Approved Retirement Funds. Regardless of whichever route you opt for, a professional planner is there to put you on the right path.